In this issue

The current decline in oil prices, which continues to show no signs of a long-term reversal, is having unexpected and unwanted consequences, many of which may turn into long-lasting troubles for the oil and gas industry, especially for its investors.

At last, a legislative light has appeared at the end of the long
dark tunnel of Ukraine’s financial sector. Adopted on 14 June 2016 and published on 19 June 2016,
Ukraine’s new law “On Financial Restructuring” No.
1414-VII is effective
for a period of only three years from 19 October 2016 until
19 October 2019.

Shortly before insolvency, financially distressed companies
often receive monies which appear “morally” to be due to
third parties, such as customer deposits or monies due to
be received by the company as agent on behalf of its
principal. If the company then enters an insolvency process,
can it keep the money, leaving the customer/principal with
no more than the right to prove, as an unsecured creditor
in the insolvency? Or should the money be protected by
some form of trust in favour of the “morally entitled”
recipient?

The use of pre-packs or pre-positioned asset sales in
Australia has traditionally been limited. This is a result of
impediments to such transactions under the Australian
legislative insolvency regime. The interplay of these impeding factors means that there are few
true pre-pack transactions in Australia. However, significant
reform to the Australian insolvency regime is expected to be
implemented in 2017. We wrote about the main aspects of that
reform in our last article, ‘Australian insolvency law reforms aim
to increase business restructuring opportunities’.

Seven years after the official end to the Great Recession,
the disparity in the real estate market recovery between
the major markets, including New York City, Washington,
DC, Boston, Chicago, Los Angeles and San Francisco, and
all other markets continues to persist.

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.

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